Der Begriff des Tochterunternehmens im Recht der Beteiligungstransparenz und im Übernahmerecht

Capital market players are regularly part of a group of companies. The classification of a company as a subsidiary has significant effects on the subsidiary and the parent company. In the law on transparency of shareholdings and takeover law, membership in such a group of companies is decided based on the concept of subsidiary in Section 35 (1) of the German Securities Trading Act (WpHG) and Section 2 (6) of the German Securities Acquisition and Takeover Act (WpÜG). These definitions are analysed in depth to shed light on capital market group law. The European foundations as well as the purpose of the regulations are particularly examined. Finally, the results found are verified by analyzing GmbH & Co. KG structures.